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Part III: So Who Needs a Business Plan?

So Who needs a business plan? These days, if you are seeking financing of any form, you require one.
Do you need a business plant to ensure the success of your business?-I would say “No”. I would say for some personality types, a business plan is a requirement to ensure that they have thought through their business idea. I would suggest that those entrepreneurs who are rash, those who have entered into risky arrangements in the past and those who are investing personal funds into industries which have high capital costs, would do well to stop and prepare a business planning document.

For others, I would say that a business plan is no more than a checklist item to get you investing. This is not to say that all business planning is bad. Rather, like reading literary classics in school, this is a checklist item that you need to get through the system. Some will take pleasure in preparing these, for others the term “business plan” evokes visions of weeks and months of pain.

It is for the latter group that we created BizMula. For those entrepreneurs who cannot sit still long enough to put together a 25+ page plan-there is now an alternative. This solution is not for everyone. There are scores of others solutions on the market that serve a different purpose. Business Plan Pro by PaloAlto software is one of the greatest pieces of software ever to come out. For those who do not remember or recall life before this program-it really did revolutionize business planning. Tim Berry is a guru in the industry and paying homage to him is an honor. By the same token, Microsoft and Palo Alto also have subscription services that are great for those who suit that personality. Enloop, a recent entry into the market, is also very easy to use and clear.

However, having ADD myself, going through this software was never easy for me–even a consultant. I enjoyed learning about industries, putting together financials and foreceasts, solidifying a marketing plan and watching entrepreneurs dreams take flight–but writing that business plan was painful-even for me.

I stand back and think-“if it was bad for me, there must be others…” and in my work, I have run across immigrants with a great work ethic and a great business idea, but who get stalled in their access to capital because of poor language skills. I have come across others who have trouble with numbers, or others who have such passion and vision that a business plan is more more than an obstacle and hindrance. For these groups, and so many others, we thought, there has to be a different, not better, but different way. For this reason, we offer BizMula.

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